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keel
Ledger
65,278,944
Methodology
1.0.8-draft
Age
6s

TREAD against USDC — what depth stands behind this price?

All assets

TREAD / USDC

GANM…6VLM

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
2.98 USDC (shortened; full value 2.982516863155431909937751155070598826487819937138 USDC)Limited by liquidation depth
Depth within 5%
buy2.88 USDC (shortened; full value 2.8878473125629710113436984879 USDC)sell2.94 USDC (shortened; full value 2.943252811519178634475188792198823301063202685339 USDC)
Cost to move +50%
Not reachableThe order book cannot reach the target
Checks
3 triggered5 not evaluated

History

Window
Resolution
Source

Buy-side depth

What an order can absorb before the price moves against a buyer. The rungs are nested, so one scale covers all three.

Lower at the end of the window than at its start

Lowest
1.16 USDC (shortened; full value 1.1636127862129519938641612399 USDC)
Highest
5.72 USDC (shortened; full value 5.7217433121908117112278788518 USDC)
2026-11-02T23:54:24Z — 2026-11-03T04:24:19ZOne scale across every line on this chart
2% from mid
1.16 USDC (shortened; full value 1.1636127862129519938641612399 USDC)
5% from mid
2.88 USDC (shortened; full value 2.8878473125629710113436984879 USDC)
10% from mid
5.70 USDC (shortened; full value 5.7077166968790179211592508764 USDC)
2 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout

Not evaluated5

  • Price sources disagree
  • Extreme spread
  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

2.98 USDC (shortened; full value 2.982516863155431909937751155070598826487819937138 USDC)

Limited by liquidation depth

Liquidation termbinds
2.98 USDC (shortened; full value 2.982516863155431909937751155070598826487819937138 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation term
not applicable

Not applied: the critical target is not reachable through the order book.